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Horizon Technology Finance Leads $15MM Venture Loan Facility to Spineology

September 21, 2021, 07:50 AM
Filed Under: Healthcare

Horizon Technology Finance led a $15 million venture loan facility to Spineology, Inc. ("Spineology"), of which Horizon funded $5 million of the initial $10 million draw and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon's advisor, funded $5 million.

Spineology develops and sells a complementary suite of anatomy-conserving technology solutions for use in lumbar spinal fusion procedures. The Company's proprietary OptiMesh® technology effectively provides structural support for fusion while limiting patient trauma during surgery, leading to significantly improved patient outcomes. Spineology has received funding from prominent healthcare growth equity investor River Cities Capital, and will use the loan proceeds for general working capital purposes.

"Spineology's proprietary technology and unique, minimally invasive approach to lumbar spinal fusion procedures has resulted in robust clinical adoption," said Gerald A. Michaud, President of Horizon. "We are excited to support Spineology's growth as it continues to drive commercialization of its two lead products, OptiMesh and Duo™."

"We are excited by Horizon's support of Spineology and our OptiMesh technology which can meaningfully drive enhanced recoveries and excellent outcomes for our patients," said John J. Booth, Chief Executive Officer of Spineology. "As the spine market becomes increasingly crowded and commoditized, we believe that our clearly differentiated minimally invasive spine technologies will continue to capture market share as we develop additional offerings and grow our company."

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